Option Explicit
Private Sub Worksheet_Change(ByVal Target As Range)
       With Application: .DisplayAlerts = 0: .Iteration = 0
           If Me.CircularReference Is Nothing Then .DisplayAlerts = 1: Exit Sub Else
           Dim dic: Set dic = CreateObject("scripting.dictionary")
           Dim cell As Range, rngRef As Range
           Set rngRef = Nothing
           For Each cell In Me.UsedRange.SpecialCells(xlCellTypeFormulas)
               If Not Intersect(cell.Precedents.Cells, cell) Is Nothing Then
                   dic(cell.Address) = cell.Precedents.Address
                   If rngRef Is Nothing Then Set rngRef = cell.Precedents _
                   Else Set rngRef = Union(rngRef, cell.Precedents)
               End If
           Next cell
           Dim rngAC As Range, rngSel As Range, strAddr
           Set rngSel = Selection: Set rngAC = ActiveCell
           If Intersect(rngRef, Target) Is Nothing Then GoTo lb
           .ScreenUpdating = 0: .EnableEvents = 0: .Iteration = 1
           For Each strAddr In dic.keys
               .ScreenUpdating = 0: .EnableEvents = 0:
               If Not Intersect(Range(dic(strAddr)), Target) Is Nothing Then
                   With Range(strAddr)
                       .Select: .Replace "=", "="
                       Do: .Calculate: Loop Until [check]
                   End With
                End If
           Next
           rngSel.Select: rngAC.Activate
lb: .ScreenUpdating = 1: .EnableEvents = 1: .DisplayAlerts = 1: End With
       Set dic = Nothing
       Set cell = Nothing: Set rngRef = Nothing: Set rngAC = Nothing: Set rngSel = Nothing
End Sub